China’s new VAT rates & rules – Real Estate & Construction industry impacts
VAT – Real Estate & Construction industry impacts
China Tax Alert - Issue 12, March 2016
On 24 March 2016 China’s Ministry of Finance (MOF) and State Administration of Taxation (SAT) jointly issued Circular Caishui  36 (Circular 36) which contains the Value Added Tax (VAT) rates and rules applicable to all of the industries which are transitioning from Business Tax (BT) to VAT with effect from 1 May 2016.
In KPMG China Tax Alert Issue 9 we examine the general impact of the new rules across all affected industries. However, in this KPMG China Alert, we examine the impact specifically for the real estate and construction sector.